IntroductionThe enforcement of foreign judgments is the recognition and enforcement in one jurisdiction of judgments rendered in another ("foreign") jurisdiction. Foreign judgments may be recognized based on bilateral or multilateral treaties or understandings, or unilaterally without an express international agreement. The "recognition" of a foreign judgment occurs when the court of one country or jurisdiction accepts a judicial decision made by the courts of another country or jurisdiction, and issues a judgment in substantially identical terms without rehearing the substance of the original lawsuit. Upon recognition by the court, the party which was successful can subsequently seek its enforcement in the recognizing country. For instance, if the foreign judgment is a money judgment and the debtor has assets in the recognizing jurisdiction, the judgment creditor has access to all the enforcement remedies as if the case had originated in the recognizing country. The court may order for, say, garnishment; where the third party which otherwise owes money to the defendant may be asked to directly pay the plaintiff. Another example may be where the court orders for the judicial sale of property, auction for a piece of real estate existing in the recognizing country. If some other form of judgment was obtained, e.g. affecting status, granting injunctive relief, etc., the recognizing court will make whatever orders are appropriate to make the original judgment effective. Foreign judgments may be recognized either unilaterally without any international agreement, or based on principles of comity. Comity refers to the principle of legal reciprocity, which basically states that a particular jurisdiction will extend some courtesies to other nations (or other jurisdictions within same nation), by recognizing the validity and the effect of their executive, legislative and judicial acts. In case no formal treaty exists between the countries, or they are not a part of any convention (namely, Hague Convention on Foreign Judgments in Civil and Commercial Matters), the courts of most states will accept jurisdiction to hear cases for the recognition and enforcement of judgments awarded by the courts of another state if the defendant or relevant assets are physically located within their territorial boundaries. Whether recognition will be given is determined by the lex fori, i.e. the domestic law of the court where recognition is sought, and the principles of comity. The following issues are considered: * Whether the foreign court properly accepted personal jurisdiction over the defendant; * Whether the defendant was properly served with notice of the proceedings and given a reasonable opportunity to be heard which raises general principles of natural justice and will frequently be judged by international standards (hence, the rules for service on a non-resident defendant outside the jurisdiction must match general standards and the fact that the first instance court's rules were followed will be irrelevant if the international view is that the local system is unjust); * Whether the proceedings were tainted with fraud; and

...﻿Foreign Direct Investment in India
The Foreign Direct Investment means “cross border investment made by a resident in one economy in an enterprise in another economy, with the objective of establishing a lasting interest in the investee economy.
FDI is also described as “investment into the business of a country by a company in another country”. Mostly the investment is into production by either buying a company in the target country or by expanding operations of an existing business in that country”. Such investments can take place for many reasons, including to take advantage of cheaper wages, special investment privileges (e.g. tax exemptions) offered by the country.
Foreign Direct investment (FDI) has a significant potential for accelerating development in the recipient economy. Besides capital flows, FDI can generate employment opportunities, facilitate acquisition of new technology and knowledge, enable human capital development and create a more competitive business environment among other thing. While FDI is generally expected to have beneficial effects, it is also vulnerable to certain adverse effects on the recipient economy. The costs to the host economy can arise from the market power of large foreign firms that may out weight small domestic producers. This may have distorting effects in the economy in terms of loss of employment opportunities for some sections,...

...business in that country.
Foreign direct investment in India
Starting from a baseline of less than $1 billion in 1990, a recent UNCTAD survey projected India as the second most important FDI destination (after China) for transnational corporations during 2010–2012. As per the data, the sectors that attracted higher inflows were services, telecommunication, construction activities and computer software and hardware. Mauritius, Singapore, US and UK were among the leading sources of FDI. Based on UNCTAD data FDI flows were $10.4 billion, a drop of 43% from the first half of the last year.[14]
India disallowed overseas corporate bodies (OCB) to invest in India.
http://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=2513 (draw the chart from here)
2012 FDI reforms
On 14 September 2012, Government of India allowed FDI in aviation up to 49%, in the broadcast sector up to 74%, in multi-brand retailup to 51% and in single-brand retail up to 100%.[16] The choice of allowing FDI in multi-brand retail up to 51% has been left to each state.
In its supply chain sector, the government of India had already approved 100% FDI for developing cold chain. This allows non-Indians to now invest with full ownership in India's burgeoning demand for efficient food supply systems.[17] The need to reduce waste in fresh food and to feed the aspiring demand of India's fast developing population has...

...contentMDK:20592520~menuPK:579454~pagePK:34004173~piPK:34003707~theSitePK:579448,00.html India: Foreign Trade Policy |
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India: Foreign Trade PolicyAlthough India has steadily opened up its economy, its tariffs continue to be high when compared with other countries, and its investment norms are still restrictive. This leads some to see India as a ‘rapid globalizer’ while others still see it as a ‘highly protectionist’ economy.Till the early 1990s, India was a closed economy: average tariffs exceeded 200 percent, quantitative restrictions on imports were extensive, and there were stringent restrictions on foreign investment. The country began to cautiously reform in the 1990s, liberalizing only under conditions of extreme necessity. Since that time, trade reforms have produced remarkable results. India’s trade to GDP ratio has increased from 15 percent to 35 percent of GDP between 1990 and 2005, and the economy is now among the fastest growing in the world.Average non-agricultural tariffs have fallen below 15 percent, quantitative restrictions on imports have been eliminated, and foreign investments norms have been relaxed for a number of sectors.India however retains its right to protect when need arises. Agricultural tariffs average between 30-40 percent, anti-dumping measures have been liberally used to protect trade, and the...

...India’s New Foreign Policy
C. Raja Mohan
ARI 65/2012 - 17/10/2012
Theme: India’s foreign policy in the 21st century will remain rooted in core values, but Delhi must necessarily adapt to changing external circumstances and shifting domestic needs.
Summary: India’s foreign policy faces five important challenges in the years to come: (1) the creation of an area of peace and prosperity in the South-Asian Subcontinent; (2) the construction of a stable architecture for peace and cooperation in Asia; (3) the peaceful management of Asia’s maritime commons; (4) a new internationalism that will be shaped by a deepening integration with the global economy and an effective contribution to the management of global problems; and (5) a clear line between celebrating its own democratic values and imposing them on others.
Keywords: India, foreign policy, peace, prosperity, regional architecture, Asia’s maritime commons, new internationalism, democratic values.
Analysis: The word ‘new’ in the title of this analysis refers to the substantive changes in India’s foreign policy orientation in recent years.[1] While the notion of ‘non-alignment’ continues to animate the domestic and international discourse on India’s foreign policy, Delhi’s international engagement has significantly evolved over the past two decades. India’s perception of itself and its role in the world have been...

...Though India stands today as the largest democracy, its administrative as well as the political set up has many flaws and shortcomings. The Indian system of administration and governance is impregnated with flaws like shortages of power, bureaucratic hassles, political uncertainty, and infrastructural deficiencies .In spite of all these political shortcomings, India is perceived to be one of the most lucrative grounds for investing, in the eyes of the wealthy European as well as American investors. This is the true reason why the researches made into the sector establishes more and more foreign investors coming to India and investing liberally into the various sectors of the Indian economy.
Various Indian market sectors have experienced a recent progress and boom, owing to the investment made in them as well as due to the relaxation of rules and regulations that had been levied on the foreign direct investment in India, by the Indian government. One of such sectors of the Indian economy, that has seen a sudden booming phase of prosperity and sustained growth, owing to these factors is the real estate as well as the construction business in India. It was the year of 2005, when the Indian Central government finally realized the economic prosperity that foreign direct investment in India would bring about. Thus, in an effort to encourage this, the...

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ESSAY
also Relevant for GS (Pre &Main)
Dimensions of Indian Foreign Policy & the Growing Challenges
Every sovereign country has its foreign policy. India too has one. Foreign policy refers to the sum total of principles, interests and objectives which a country promotes while interacting with other countries. Even though there are certain basic features of a foreign policy it is not a fixed concept. The thrust of foreign policy keeps on changing according to changing international conditions. India’s foreign policy is shaped by several factors including its history, culture, geography and economy. Our Prime Minister, Jawaharlal Nehru, gave a definite shape to the country’s foreign policy. The Republic of India is the second most populous country and the world’s most-populous democracy and has one of the fastest economic growth rates in the world. With the world’s tenth largest military expenditures and eleventh largest economy by nominal rates or fourth largest by purchasing power parity, India is considered to be a regional power and a potential global power. It is India’s growing international influence that increasingly gives it a more prominent voice in global affairs. India has historically played a prominent role in several international organizations. It has a long history of collaboration with...